A lot of agents brush off working with buyers.
They are missing out on multiple opportunities that can help every part of their business.
Buyer business can do more for you than you may think.
There's not as much money in this for realtors, but if you're a new agent or even just in a slump, these leads are easier to get and win then listings.
First, if you are a newish realtor, this is a smooth way to break into your market.
Rookies need to try and get their name out there as much as possible. They also need to show their work ethic and reliability.
This is where you can make those marks. It's really an opportunity to show your value, especially if you are new in an office.
Even if you aren't a new agent, you could be in a new area or just hoping to work a new section of town, and this is a way to learn the area's market.
When you work with buyers, you get to know the market.
You won't have very much success if you aren't familiar with your area. One of the biggest red flags prospects look for is when an agent doesn't know the entire real estate landscape for their hopeful area.
Carving out your niche in a particular place makes a huge difference when you prospect for listings. Knowing the difference between a couple of blocks can save your clients thousands of dollars or a lot of time.
It's a way to stand out, and you can build yourself up by mastering the area by working with buyers.
Here’s what you need to bring to them over an agent from another part of town:
- Complete knowledge of the vicinity (shops, schools, etc.)
- Understand pricing in that market and buyer’s demands.
- Reviews from clients in the area (if you have any). They can be buyer reviews.
- Be somewhat familiar with the size of the properties.
- Know where people work and if it’s a family oriented neighborhood.
What better way to learn the ins and outs than making money while working the less competitive buyer market.
Once you're able to brand yourself as this expert, you can focus your marketing around it.
Since this is less competitive, if you're in a slump it's a good way to get out of it and restore your confidence.
Times can get tough sometimes. There's nothing wrong with working with sellers and then going into the buyers market.
You may need to get a few deals back under your belt to bring your confidence. You can set the tone for the rest of your business and go into your next listing presentation confident.
These aren't even the biggest benefit.
Working with buyers can bring you seller leads and lead to listings.
I remember I was very knowledgeable about the real estate market in small market High Springs, Florida. I worked with a lot of buyers in the area, and I knew that the market was hot.
Because I worked with the buyers and knew everything in and out in the market, I knew what type of houses were in high demand.
I met with a seller who was burned out. They had their house on the market for over a year with two different realtors, and it had not sold.
But, despite what they knew, their house was very sellable. It just was not being marketed correctly.
Because I'd worked with so many buyers, I was very confident in the fact that their house was very sellable.
I knew how I could market it to get it sold.
So, I met with the sellers.
I was only 21 years old, green behind the ears and walked out the door with a $300,000 listing. They interviewed several other agents that were probably more confidence-inspiring than I was.
And, it turns out I was right about the market.
The house sold about a week later due to my marketing. I got a $8,500 commission check.
I would not have gotten if I had not worked with buyers in that area and known about how the real estate market worked.
Buyer leads can earn you listings down the road.
Here are our top ways to find buyer leads.
When people search for a home in the area they hope to live at, it is almost always done online. This is where we recommend you find these buyer leads.
The biggest benefit of Facebook is it’s incredibly detailed and reliable targeted marketing. It’s very cheap and super targeted.
It's perfect for buyer leads because you can run ads that directly target people who are interested and have shown online interest in moving into your area.
Target people in your area and audiences in your area with a realistic age range.
The other way to populate your audience is to use the audience from similar pages or other real estate related pages. You can pull those audiences in with the Ad Builder.
83% of buyers trust brands or companies that offer them resources and useful information.
This means offering them tips. So if you brand yourself to your area, promote your blog or even any community blog with a link to your website.
You can use your company’s assets and expertise in the area as well for this. But you don’t lean too heavily on your brokerage to define what makes you different.
Zillow
You may hate Zillow, but that doesn't make it a bad place to get buyer leads.
You do this by signing up for Zillow's Premier Agent. On Zillow, an agent can pay to be displayed next to a listing.
Your headshot and information are displayed and viewed by anyone looking at that particular listing. Each view is an impression and leads will come after a certain number of impressions.
You can choose how much to spend, and that will determine the number of impressions you get.
Upnest
Upnest is a tool that pairs buyers or sellers with agents. It works basically as a partnership between you and the website.
They will bring you buyers in your market. The number or buyers will be determined by what's going on in your market.
All of the buyers will be pre-qualified to work with you as well.
Upnest will determine the customer's needs and preferences and fit them with the right agent.
Your Own Website
This is where you can buy, write or use content from other sites to give buyers valuable information to read.
It can be geared toward community events and happenings or even mortgage rates and things of that nature.
That way if any looks you up or is interested from any other online ads, they will associate you with that area.
Working with buyers is often glossed over, but it can and should be a vital part of your business.
What if you could give something of value that won’t be thrown away. So when you reach back out to anyone, they immediately remember you.
We even offer books that position you as the buyer expert.
With our My Books program we can help you achieve that. Books are valued.
Recently, a Smart Agents member tracked down some potential buyer leads and gave them her book.
She won their business a few days later. Our sample book is a listing book, but we offer a buyer guide to our members.
Do this and you will position yourself as the authority in your market. When you give away your book, it will separate you from your competition. That’s how a smart agent thinks!
Want to get a free sample of the book that will get you more listings? Click the link below.
Joe Nickelson is a real estate professional dedicated to helping home buyers and sellers achieve their dreams of owning property, and helping real estate agents stop using the sometimes-vicious tactics that weigh on their consciences. He believes that the Smart Agents books will, quite literally, change people’s lives for the better. Check out his full bio here!
